Music Industry Moves: Tencent Music and Universal Music Group Extend Licensing Agreement

variety.com:

Thania Garcia Tencent Music Entertainment Group, an online music and audio entertainment platform based in China, and Universal Music Group, have announced the renewal of a multi-year licensing agreement.

With the agreement being re-upped, Tencent will continue to have reach over UMG’s music catalogs for the music apps QQ Music, Kugou Music, Kuwo Music, and WeSing.

The partnership includes music streaming in Dolby Atmos and high-definition (HD) formats. Regarding the partnership, Adam Granite, UMG’s executive vice president of market development, said UMG will work together with TMW to “help create compelling new experiences for fans across all TME platforms “with our renewed focus on signing and supporting the best talent from across Greater China.” “UMG has been an invaluable ecosystem partner to TME with deep mutual trust,” said Cussion Pang, executive chairman of TME. “Our diverse user demographics, large subscriber base, extensive industry insights, and advanced technologies have positioned us as a standout partner of choice.

With a shared passion for music, we look forward to enriching our cooperation and strengthening our vibrant ecosystem to promote growth and prosperity.” + Sphere Entertainment Co. has promoted Ed Lunger to senior vice president and general manager of the Las Vegas Sphere.